Pune India, Jan. 18, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the Biocides market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the Biocides market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as Product, Application, and Region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Biocides market are ABiocides Market are Lubrizol, BASF SE, Solvay SA, Lanxess AG, Lonza, Troy Corp, Chemtreat Inc, Neogen Corp, Finoric LLC among others. To achieve a substantial market share in the worldwide Biocides market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The use of biocides has dramatically increased in a number of sectors. Since cooling water systems are excellent for the growth of microorganisms, cooling towers are one of the key places where biocides are utilized in power plants, mines, and chemical companies. The process of unchecked microbial growth on surfaces is the creation of slime. Both biological and non-biological elements are present in slimes. The biological element, which consists of microorganisms and the waste they produce, is referred to as biofilm. The requirement for water treatment owing to increased water use brought on by population growth, changing food trends, and climate change indirectly drives the market for biocides. Newer biocides, useful for treating drinking water and wastewater, are replacing chlorine in many wastewater treatment plants since many microbes may survive chlorine treatment, increasing the risk of outbreaks with adverse effects. Growth in the chemical market is being constrained by rising chemical prices. Additionally, every business is being impacted by the growing and unstable pricing of raw materials and commodities. In order to turn a profit, material providers must choose between raising prices and absorbing cost increases. Changes in raw material input costs cannot be disregarded since raw materials might be responsible for a company's cost loss.
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Scope of Biocides Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product, Application, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Lubrizol, BASF SE, Solvay SA, Lanxess AG, Lonza, Troy Corp, Chemtreat Inc, Neogen Corp, Finoric LLC among others |
Segmentation Analysis
Halogen Compounds is expected to be the fastest-growing segment in 2022.
The Product segment is Halogen Compounds, Metallic Compounds, Organosulfur, Organic acids, Quaternary Ammonium Compounds, Phenolic, Nitrogen, and Glutaraldehyde. Halogen Compounds is expected to be the fastest-growing segment in 2022. The bases in biocide compositions, which use halogens like fluorine, chlorine, and iodine, are responsible for market growth. A separate iodine-based substance called iodophor increases iodine's stability and biocidal potency. Chlorine is one of the most often used halogens and is suitable for use in municipal drinking water plants and wastewater treatment facilities, among other places because it has strong antibacterial and oxidizing capabilities.
Therapeutic Injections is expected to be the fastest-growing segment in 2022.
TThe Application segment is Water Treatment, Food and Beverage, Personal care, Wood Preservation, Paints and coatings, Plastics, and Others. The product's widespread application in marine coating applications, where the painted surface is regularly in touch with dampness and water, helps to explain this. When applying water-borne paints and varnishes, biocides must be used. Paints & coatings have a sizable market share, which predicts enticing development potential for the sector.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for Biocides include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia Pacific region witnessed a major share. The Asia Pacific area now has a much greater requirement for accessible and efficient biocide-active compounds. Biocides are expected to be more in demand in the pulp and paper sector in the Asia Pacific area as a result of rising high-end paper output, substantial recycling, and tougher regulations limiting the discharge of effluent from the pulp and paper industry.
Country Analysis
- Germany
Germany's Biocides Market size was valued at USD 3.12 billion in 2022 and is expected to reach USD 5.15 billion by 2030, at a CAGR of 3.9% from 2023 to 2030. Germany is the industry leader in biocides. This is a result of the increasing need for biocides in the region's pharmaceutical and paint coating sectors. The prevention of microbial growth, maintenance of dry films, and in-can preservation are all advantages of using biocides in paints and coatings.
- China
China’s Biocides Market size was valued at USD 4.25 billion in 2022 and is expected to reach USD 6.39 billion by 2030, at a CAGR of 4.9% from 2023 to 2030.
China is a significant producer and consumer of biocides, according to estimates. The nation's requirement for biocides has grown as a result of the industrial sector's explosive growth. Important end users are also present in the country, which is encouraging market growth.
- India
India's Biocides Market size was valued at USD 4.8 billion in 2022 and is expected to reach USD 5.9 billion by 2030, at a CAGR of 5.2% from 2023 to 2030. This development is anticipated to contribute to the market's expansion in India since Biocides Market may be used for both production and testing. Pharmaceutical sector applications for biocides have a bright future.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, The growth of the Biocides market is mainly driven by a rise in the demand for halogen compounds for use in paints and coatings, pulp and paper, and water treatment.
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